I see bitcoin itself still has some weaknesses, as well as fiat. but for now, fiat is more familiar and has received recognition from the government as a transaction tool. but on the other hand bitcoin also has advantages over fiat. So I think that if both are used, they will complement each other and make people's lives easier
There's no doubt that Bitcoin has many weaknesses. But Fiat is not as perfect as its proponents claim it to be. A person will ulitmately determine which type of currency depending on his/her needs. In some sense, Bitcoin is better than Fiat because of its completely decentralized nature. People can make use of Bitcoin without fear of getting denied access to their account, or their funds frozen by a third-party. That's not the case with Fiat as it's heavily manipulated and controlled by central banks and governments alike.
Unfortunately, Bitcoin's unstable prices makes it a terrible currency for day-to-day payments. It's why Fiat is still king when it comes to making payments on a daily basis. Bitcoin works more as a store of value than anything else. I believe Bitcoin will remain an alternative to Fiat than a replacement for a long, long time. Just my thoughts
